Norges Bank Acquires New Stake in Figma, Inc. $FIG

Norges Bank acquired a new stake in Figma, Inc. (NYSE:FIG – Free Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,037,200 shares of the company’s stock, valued at approximately $38,760,000.

A number of other institutional investors also recently added to or reduced their stakes in FIG. SC US Ttgp LTD. purchased a new stake in shares of Figma during the 3rd quarter worth $1,310,305,000. ICONIQ Capital LLC purchased a new stake in shares of Figma during the 3rd quarter worth approximately $1,108,879,000. a16z Capital Management L.L.C. purchased a new stake in shares of Figma during the 3rd quarter worth approximately $842,687,000. Durable Capital Partners LP purchased a new stake in shares of Figma during the 3rd quarter worth approximately $278,510,000. Finally, Thrive Capital Management LLC purchased a new stake in shares of Figma during the 3rd quarter worth approximately $228,034,000.

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Insider Buying and Selling

In other Figma news, CFO Praveer Melwani sold 83,974 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $22.77, for a total transaction of $1,912,087.98. Following the transaction, the chief financial officer owned 1,749,024 shares of the company’s stock, valued at $39,825,276.48. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dylan Field sold 174,430 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.02, for a total value of $4,364,238.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 699,037 shares of company stock worth $17,149,692 in the last 90 days. 45.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on FIG. Royal Bank Of Canada decreased their price objective on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Friday, May 15th. Morgan Stanley decreased their price objective on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Oppenheimer began coverage on shares of Figma in a research report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Figma presently has an average rating of “Hold” and a consensus target price of $38.63.

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Figma Stock Performance

FIG stock opened at $21.14 on Tuesday. The firm has a market cap of $9.42 billion and a P/E ratio of -6.16. The stock’s 50 day moving average price is $20.67 and its 200 day moving average price is $27.37. Figma, Inc. has a 1 year low of $16.60 and a 1 year high of $142.92.

Figma (NYSE:FIG – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The company had revenue of $333.44 million for the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. On average, research analysts predict that Figma, Inc. will post -0.78 earnings per share for the current year.

About Figma

(Free Report)

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.

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